Russia is expected to be the major contributor to the growth of the underground working gas storage capacity in the Former Soviet Union (FSU) between 2018 and 2022, accounting for around 92% of the total region’s growth, according to GlobalData, a data and analytics company.

Russia is expected to add around 877 billion ft3 of underground gas storage capacity during the forecast period from nine planned and announced underground gas storage sites. CAPEX for these sites totals US$2.4 billion over the next four years.

GlobalData identifies Kazakhstan as the second largest country in terms of underground gas storage capacity additions in the region. The country is expected to add about 49 billion ft3 of underground gas storage capacity by 2022. The country plans to spend around US$345 million on an upcoming site, during the outlook period.

In terms of new build CAPEX spending during the forecast period, Bednodemyanovskoye II in Russia will lead with US$604 million. Kanchurinsko-Musinsky Complex II site in Russia and Bazoi II site in Kazakhstan will follow with US$411 million and US$345 million, respectively.